Altech Chemicals has held a successful shareholders vote to approve a change of name to Altech Batteries Limited to better reflect the company’s direction of “Meeting a battery storage future”. The Australian Securities and Investments Commission have approved and registered the change of name. The ASX ticker will remain ATC.
Altech says the new name is consistent with the business and market segments of all three of Altech’s projects. The company also indicated the new name will allow for marketing of the company’s future products in a more beneficial manner.
The company has three battery focused projects and products including the Silumina lithium-ion battery anode product, its Cerenergy batteries and a 4,500 tonnes per annum high-purity alumina project delivering feedstock for lithium-ion and future solid state batteries.
The Cerenergy batteries are seen by the company to be a game-changing grid power storage alternative to lithium-ion batteries. The battery uses table salt and nickel and is lithium, copper, graphite and cobalt free. Altech is in a joint venture with Europe’s largest application-oriented research organisation Fraunhofer to develop a 100MWh per annum Cerenergy battery at Altech’s site in Saxony Germany.
Altech Batteries is also listed on the Frankfurt stock exchange in Germany with a ticker of A3Y. The Frankfurt Stock Exchange is the world's 12th largest stock exchange by market capitalisation. Listing in Germany makes sense given Altech has its battery project there in addition to its lithium-ion battery anode pilot scale plant. After completion of a definitive feasibility study Altech plans to build a full-scale lithium-ion battery anode plant on the same site as the pilot plant in Saxony Germany.
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